Term depositors need to compare and shop around

Term deposit investors are likely to see rates fall because of the February rate cut from the RBA.

Five years ago term deposits were paying up to about 8 per cent. Now term deposits are about 3 per cent for a virtually risk free return. But other investments like shares are also yielding less because of the sluggish economy.

Investors and savers need to shop around, compare and look for the best value term deposits in the market if they want to maximise their returns.

Source: The Age